Could Skillz Stock Help You Retire a Millionaire?
It's easy to invest in the stocks that everyone loves, but the truly life-changing returns can happen when an investor goes against the crowd, picking an unpopular stock, and ends up being right. Gaming platform company Skillz (NYSE: SKLZ) isn't a market favorite; the stock is down more than 70% from its 52-week high set earlier this year. However, three things could really change the story on Skillz for the better.
Skillz is in the very early stages of developing its platform, and its content is minimal. The games on the platform are largely "casual games," such as solitaire, pool, and bingo. Gamers play a game, and the Skillz platform compares their score against their opponent's to determine the winner of the match. There is no ability to play against someone in real time, eliminating many of the most popular game genres such as battle royal and first-person shooter.
The company recently announced a minority investment of $50 million and a strategic partnership with Exit Games, the developer of Photon, a platform that powers multiplayer games for nearly 600,000 developers worldwide. Game developers can now use Photon to create games on the Skillz platform, fully unlocking the mobile gaming market estimated at $86 billion as of 2020.
Source Fool.com
